Stellar News

Bearish hold of XLM seems to be Momentary

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  • Stellar has mostly traded below the baseline for the major extent in the past 5 days

Stellar (XLM) has been one of the most consistent and performing coins in the crypto market. With the bears continuing to wield pressure on the trading price of altcoins, XLM has also been badly hit by the current bearish tide in the market. The 5-day price chart indicates the price of XLM has been hovering in the range of $0.0572–$0.0622.

XLM to USD Price Comparison:

Stellar has been moving mostly below the baseline as the bears are still wreaking pressure on its price as seen from the 5-day price chart. From a low of $0.0572 on Sep 28, the price of XLM rose by 3.54% to $0.0593 on the same day. However, the price of Stellar remained below the baseline and it fell by 3.88% to $0.0569 on Sep 30. Then the price started moving in the upward direction and had a good rally at $0.0622 on Oct 01, the upward swing was to the extent of 9.31%. The rally did not last long and the bears started exerting more pressure on the price of XLM and it fell by 7.06% to $0.0578 on Oct 02. The current trading price (at the time of writing) is at $0.0596, which shows that the price has slightly recovered by 3.11%.

Stellar Price Chart

Stellar has shown a spectacular rise since the beginning of the year and has also given consistent upward returns. The bear turn in the market, however, waylaid its upward swing and started exerting pressure on its price. Still, the bulls are trying hard to come back into the market through the crypto market is expected to be bearish for the short-term. Analysts are betting on the past historical trends and the consistent performance of the coins until the bear run set in to indicate a positive future for the coin.

Investors should wait and hold their investments from a long-term perspective. Short-term traders may not gain much as the coin has mostly been trading below the baseline price for the past 5 days.

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